Cabot Oil & Gas More Confident in the Eagle Ford & Pearsall

Cabot Oil & Gas exited 2012 with more confidence in the Eagle Ford at 400 ft well spacing and more knowledge about the Pearsall Shale.

The Company has experienced continued success with the 400′ down spacing program (Eagle Ford), maintaining a range of EURs between 350 and 500 Mboe per well, depending on lateral length.

Cabot Focused On Eagle Ford Well Design

Cabot is still working to develop the optimal well design in the Eagle Ford, but has driven down drilling times to an average of 13 days (9.5 day record). Average well costs are falling with increases in drilling and completion design.

It’s still early in the life of Cabot’s Eagle Ford properties, but 400 ft spacing will likely double recoverable reserves in the Buckhorn Area that straddles Frio, La Salle, Atascosa, and McMullen counties.

As of November 2012, Cabot shared the following Eagle Ford stats:

Drilled 39 wells

Completed 38

Average IP was 653 boe/d (24-hr) and 460 boe/d (30-day)

Average lateral length of 5,039

Average EUR expected to be 400,000 boe (380-550 mboe range)

Cabot Is Testing Best Well Placement in the Pearsall

Much of the same can be said about the Pearsall. It’s early, but results seem positive. Cabot has 5 producing well, 4 waiting on completion, and 3 drilling related to its JV with Osaka.

“We continue to refine the process of determining the best place to land the laterals in the prospective interval,” commented Dinges.